How long does it take to sell a property? Well, the phrase ‘how long is a piece of string?’ perfectly sums up the uncertainty that plagues many home sales. While every property and its circumstances are unique, new analysis (March 2021) shows sellers wait an average of 295 days for their sale to reach completion.
Almost 300 days is unacceptable for most, especially if you need to sell your property fast. There’s also a hidden story behind the figure too. It was estimated in early 2021 that as many as 1 in 4 UK property sales are falling through – that’s transactions terminated before they even reach completion.
If you need to sell your house fast, without uncertainty and delays, there are alternatives to using a traditional High Street estate agent. Here are the options and some handy advice from the Open Property Group:
A cash buyer is almost always guaranteed to complete their purchase quicker than any other buyer, as they don’t have to go through the lengthy mortgage application and approval process. You can sell your home fast to the Open Property Group today. We are professional cash property buyers with the funds available to make you an instant, free cash offer.
If a High Street estate agent has provided you with a valuation, question whether it’s a figure designed to achieve a quick sale or a figure designed to earn the agent maximum commission. Price your property too high and it’ll be ignored by buyers, remaining unsold for a frustratingly long time. We have perfected the art of valuing for a quick sale, while not compromising on a fair price - see how we achieve this here.
Property chains slow sales down - the more buyers and sellers involved, the higher the chance of your chain collapsing. People do pull out of a purchase if it’s not moving as quickly as they’d like, leaving sellers high and dry. Guaranteed sales success comes with the shortest chain possible – which is what you’ll get when you sell to the Open Property Group. It’s just you, the seller, and us, the buyer – there’s no one else to complicate matters.
When you sell through an estate agent, you are at the mercy of the open property market - and the long-winded process that it entails. The marketing, viewing, sales progression and conveyancing stages add up to weeks and weeks of lost time - and there’s no guarantee of a successful sale at the end. When you sell to a professional property buyer, such as the Open Property Group, you cut out all the protracted stages and can complete in as little as seven working days - no viewings, no for sale board and no delays.
You can really add speed to your sale by selling at a property auction. The beauty of this method is that exchange happens as soon as the gavel falls. Whether you use an online or ‘in the room’ auction, you’ll walk away having cleared the first legal hurdle. And as well as the average sales success rate at auction standing between 75% and 80%, completion will happen quickly too – usually 14 days to 6 weeks after the auction. Our sister company Open Online runs regular online property auctions and its blog on the perks of selling at auction is a great place to start for anyone considering this approach.
Many of the most common questions about selling property fast to a cash buyer are answered in our online FAQ section but we’re always available to talk through your individual circumstances. Get in touch and tell us about a property you need to sell quickly.
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